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How dumb are those that run the city of San Diego?
"San Diego City Council has approved a refinancing deal that saves the city money in the short run. But it will cost San Diegans more in the long run.
Its a bit like taking out a second mortgage on your home to get some capital, except that in this case, the city is using public property as collateral to sell $185 million in bonds."
Of course Arnold is doing the same on a statewide basis.
This is why California is in a Depression. Those running our State and cities are economic illiterates.
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"San Diego City Council has approved a refinancing deal that saves the city money in the short run. But it will cost San Diegans more in the long run.
Its a bit like taking out a second mortgage on your home to get some capital, except that in this case, the city is using public property as collateral to sell $185 million in bonds."
Of course Arnold is doing the same on a statewide basis.
This is why California is in a Depression. Those running our State and cities are economic illiterates.
More...